Dismissed

Infomedia Press Ltd.(Formerly Known as Infomedia 18 Ltd. v. Outlook Publishing(India) Pvt.Ltd.(Formerly Known as Outllok Publishing Pvt.Ltd.)

Bombay HC11 Jun 2014CP/134/2013

Case brief

AI extract

What is this about?

This court adjudicated a company petition where parties amicably settled via a Memorandum of Settlement. Upon confirming full payment by the respondent and the fulfillment of undertakings regarding certificates, the court dismissed the petition and disposed of the application.

What the court decided

AI extract

Infomedia Press Ltd.(Formerly Known as Infomedia 18… — Company and Corporate | Bombay HC (2014)

Nitin

915-CP-134-2013

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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COMPANY PETITION NO. 134 OF 2013

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Infomedia Press Limited … Petitioner Versus

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Outlook Publishing (India) Pvt. Ltd. … Respondent

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None for Petitioner.

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Mr. Anup Bhambhani, Sr. Advocate i/b. S.V. Marne for Respondent

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CORAM: S.J. KATHAWALLA, J. DATE: 11TH JUNE, 2014

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P.C.:

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In the above Company Petition, this Court (Coram: N.M.

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Jamdar,J.) on 16^th August, 2013 has passed the following order :-

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“The learned Counsel for the parties state that

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the parties have amicably settled the dispute and

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they have drawn Memorandum of Settlement.

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Memorandum of Settlement provides that the

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respondent will pay an amount of Rs.1,10,00,000/- to the petitioner by way of

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installments, and last such installment will fall on

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Settlement/consent terms are accordingly taken

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on record and marked “X” for identification.

915-CP-134-2013

Nitin

2. Considering the fact that the repayment

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is scheduled to take place over a long period of time, initially the matter is adjourned to 22^nd

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January, 2014. To be shown under the caption ‘for Directions’ only to monitor the conduct of both the parties under the Memorandum of Settlement. If the payment is being made as agreed then thereafter, the matter will be listed ‘for Directions’ on 11^th June 2014 ie after the last

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payment is due.”

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Pursuant thereto the Respondent Company has paid an amount of Rs. 1,10,00,000/- to the Petitioner as agreed. The same is established from the certificate issued by the Banker of the Respondent Company and produced in Court by the Learned Senior Advocate appearing for the Respondent Company. The said certificate is taken on record and marked 'X' for identification.

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The Court is informed that no TDS/MVAT has been deducted by the Respondent Company towards the aggregate amount of Rs. 1,10,00,000/- and if any TDS/MVAT certificate is required to be forwarded to the Petitioner in respect of any earlier payments made by

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the Respondent Company to the Petitioner in which TDS/MVAT has been deducted, the same shall be forwarded to the Petitioner within a period of

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Nitin 3 915-CP-134-2013 15 days upon written request. The statement is accepted as an undertaking given to the Court. In view thereof, nothing survives in the above Company Petition and the Company Petition is accordingly dismissed. The Company Application also stands disposed of.

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( S.J.KATHAWALLA, J. )

Infomedia Press Ltd.(Formerly Known as Infomedia 18 Ltd. v. Outlook Publishing(India) Pvt.Ltd.(Formerly Known as Outllok Publishing Pvt.Ltd.)

Case brief

What is this about?

What the court decided

Infomedia Press Ltd.(Formerly Known as Infomedia 18 Ltd. v. Outlook Publishing(India) Pvt.Ltd.(Formerly Known as Outllok Publishing Pvt.Ltd.)

Case brief

What is this about?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

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